Indonesia reduces rates again due to low growth
Indonesia’s central bank (BI) slashed interest rates on September 19 for the third month in a row as Southeast Asia's biggest economy is affected by the US-China trade war and slow global growth.
Indonesia’s central bank (BI) slashes interest rates on September 19 for the third month in a row (Photo: AFP/VNA)Hanoi (VNA) – Indonesia’s
central bank (BI) slashed interest rates on September 19 for the third month in
a row as Southeast Asia's biggest economy is affected by the US-China trade war
and slow global growth.
BI lowered its key lending rate to 5.25 percent, prompting speculation that more cuts could be ahead as central banks around the world relax monetary policies.
BI governor Perry Warjiyo said this is a pre-emptive measure to boost the momentum of growth amid a global economic slowdown.
The move comes after the US Federal Reserve announced its second interest rate cut of the year as it pointed to a slowing world economy and the US-China trade tensions.
Last week, the European Central Bank unveiled a massive stimulus programme rate cut to goose the sluggish eurozone economy.
Indonesia’s economic growth was 5.05 percent in the second quarter - the lowest quarterly expansion in two years - as exports and investment slipped./.
BI lowered its key lending rate to 5.25 percent, prompting speculation that more cuts could be ahead as central banks around the world relax monetary policies.
BI governor Perry Warjiyo said this is a pre-emptive measure to boost the momentum of growth amid a global economic slowdown.
The move comes after the US Federal Reserve announced its second interest rate cut of the year as it pointed to a slowing world economy and the US-China trade tensions.
Last week, the European Central Bank unveiled a massive stimulus programme rate cut to goose the sluggish eurozone economy.
Indonesia’s economic growth was 5.05 percent in the second quarter - the lowest quarterly expansion in two years - as exports and investment slipped./.
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